The Nigerian Communications Commission (NCC) has put a halt to Globacom’s plans to offer free data to all its subscribers on Friday, August 11, 2017. In a letter signed by Sunday Dare, NCC commissioner for stakeholder management, for Umar Danbatta, the executive vice chairman, the commission said the promotion is a clear departure from what was approved by the regulator.

The International Air Transport Association ( IATA) has confirmed that over $175 million accruing to foreign airlines from ticket sales was still trapped in Nigeria as at June 2017 down from $600 million in June last year. Speaking Wednesday in Lagos, IATA Area Manager, South West Africa, Dr Samson Fatokun said non remittance of such funds was having negative impact on the operations of the affected carriers, as the blocked funds constitute operating costs for the carriers.

The Nigeria Customs Service (NSC) said it has seized high profile Sports Utility Vehicles (SUVs) valued at about N1.374bn in a single swoop in Lagos. The Comptroller General of Customs, Col Hameed Ali (rtd) who made the disclosure on Tuesday in Abuja while conducting newsmen around the seized vehicles assured that the Service will redouble efforts in the area of securing the nation's border as well as increase the nation's revenue drive to assist the government in its development agenda.

The International Monetary Fund (IMF) has warned that though Nigeria's economy was witnessing 0.8 percent growth, the development was incapable of reducing unemployment rate in the country. The observation was made after officials of the IMF led by Amine Mati visited the country between July 20 and 31st to discuss prevailing economic realities, update macroeconomic projections as well as review reform implementation.

Cybercrime

Mr Tayo Adewusi, Coordinator, Africa Digital Forum and Awards (ADA), on Sunday in Lagos said that cyber security had become a crucial factor to business growth. According to Adewusi, cyber security has become an important element to the modern connected world and as such, there is need to tackle its effect on businesses.

NIPOST

The Nigeria Post & Telecommunications service, NIPOST, says it is adopting a system that would improve the delivery of its services.  The innovation tagged “what3words address” is a global addressing system designed to help the postal service increase the number of homes it is capable of delivering to.

Fake Insurance Papers

Insurance practitioners on Friday said that they would soon partner the Federal Government to create a common portal to check issuance of fake insurance documents in Nigeria. Mrs Oyinkan Olasanoye, the President of Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI), disclosed this to the News Agency of Nigeria (NAN) in Lagos.

Managing Director/Chief Executive Officer Total upstream companies in Nigeria, Mr. Nicolas Terraz, on Wednesday, said that the firm would boost the country’s daily oil production by 200,000 barrels from 2018. Terraz, who was represented by Mr Biodun Afolabi, Executive Director, Corporate Affairs and Services, said that the additional barrels would come from the company’s multi-billion dollar Egina Field Development.

India’s Hindustan Petroleum Corporation is considering dumping Nigeria’s sweet crude for US oil. This is coming less than three years after the Americans stopped imports of Nigerian oil. After the US stopped the purchase of Nigerian oil under former Barack Obama, Nigeria turned to Asia, particularly India and China for oil sale.

The Central Bank of Nigeria (CBN) on Friday injected $462,336,426.74 into the foreign exchange market. The bank had earlier injected $194 million to the forex market on July 24. The Acting Director in charge of Corporate Communications at CBN, Mr. Isaac Okorafor, disclosed this in a statement in Abuja.